Adani Wilmar Stake Sale: Adani Group has raised Rs 4,850 crore by selling 13.5 percent stake in Adani Wilmar Joint Venture. On January 9, Adani Group had announced the sale of 17.54 crore shares (13.50 percent equity) in Adani Wilmar through Offer for Sale (OFS) to non-retail investors on January 10 and to retail investors on January 13. It was said that the sale will be done at the floor price of Rs 275 per share. Adani Wilmar is a joint venture between Adani Group and Singapore’s Wilmar.
An option to separately sell 8.44 crore shares or 6.50 percent equity stake has also been kept in this OFS. Let us inform you that Adani Enterprises is exiting by selling its entire 43.94 percent stake in Adani Wilmar. This stake sale is being done in two phases. The company had said in a statement on December 30 that under the first phase, Adani Enterprises will sell approximately 13% shares in Adani Wilmar to comply with the minimum public shareholding requirements.
Apart from this, for the second phase, Adani Enterprises, Adani Commodities LLP and Lens, a subsidiary of Wilmar International, have signed an agreement. In the second phase, Lens will buy the equity shares of Adani Wilmar held by Adani Commodities LLP. This purchase will be for the remaining 31 percent stake. Adani Commodities LLP is a subsidiary of Adani Enterprises. In the second phase, Wilmar International Limited has agreed to acquire the remaining stake at a price of Rs 305 per share.
More than 100 investors participated in OFS on January 10.
Adani Group is selling this as part of its strategy to exit non-core activities to focus on its core infrastructure business. According to information received from the stock market, Adani Commodities LLP completed OFS on Friday, January 10 for the sale of 13.5 percent stake in Adani Wilmar to non-retail investors. The transaction witnessed strong demand from various international and domestic investors. This was one of the largest OFS in the Indian capital market in recent times, with more than 100 investors participating.
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“We wish to inform the stock exchanges of our intention to exercise the oversubscription option of up to 1.96 crore shares (1.51 per cent) in this offer. 17.54 crore equity shares,” the group said in a filing to the stock exchanges. The shares will be part of the base offer. This will take the total number of shares offered in the offer to 19.50 crore (15.01 per cent), out of which 1.95 crore shares (1.50 per cent) will be available as part of the offer on January 13.
Adani Group has raised equity capital of $ 3.15 billion so far in FY25
With this transaction, Adani Group has raised a total equity capital of $ 3.15 billion so far in FY 2025. With the successful closing of OFS, Adani Wilmar has complied with the minimum public shareholding norms. Now the promoters’ stake in the company is 74.37 percent and the remaining 25.63 percent is with the public shareholders. On January 10, Adani Wilmar shares fell 10 percent to close at Rs 291.60 on BSE.
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